1307.508
Warranties of collecting bank as to documents of title - UCC 7-508.

Part 5. Warehouse Receipts and Bills of Lading: Negotiation and Transfer

A collecting bank or other intermediary known to be
entrusted with documents of title on behalf of
another or with collection of a draft or other claim against delivery of
documents warrants by the delivery of the documents only its own good
faith and authority
even if the collecting bank or
other intermediary has purchased or made advances against the claim or
draft to be collected.